Short Interest in Sachem Capital Corp. (NYSEAMERICAN:SACH) Declines By 12.9%

Sachem Capital Corp. (NYSEAMERICAN:SACH) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 1,010,000 shares, a drop of 12.9% from the May 31st total of 1,160,000 shares. Based on an average trading volume of 365,100 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Melia Wealth LLC purchased a new stake in Sachem Capital during the 1st quarter valued at approximately $10,046,000. Citigroup Inc. bought a new stake in Sachem Capital in the 3rd quarter valued at $706,000. Jump Financial LLC lifted its stake in Sachem Capital by 112.2% in the 4th quarter. Jump Financial LLC now owns 75,628 shares of the company’s stock worth $283,000 after purchasing an additional 39,984 shares in the last quarter. US Financial Advisors LLC lifted its stake in Sachem Capital by 9.9% in the 4th quarter. US Financial Advisors LLC now owns 362,188 shares of the company’s stock worth $1,355,000 after purchasing an additional 32,618 shares in the last quarter. Finally, Barclays PLC bought a new position in shares of Sachem Capital during the 3rd quarter valued at about $86,000. Hedge funds and other institutional investors own 18.07% of the company’s stock.

Sachem Capital Stock Down 1.2 %

NYSEAMERICAN:SACH traded down $0.03 during mid-day trading on Monday, hitting $2.56. 165,678 shares of the company traded hands, compared to its average volume of 338,401. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.74 and a current ratio of 1.74. The company has a fifty day moving average of $3.68. The company has a market cap of $121.47 million, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 0.14 and a beta of 1.73. Sachem Capital has a one year low of $2.53 and a one year high of $4.64.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SACH. Oppenheimer reduced their price target on Sachem Capital from $5.00 to $4.50 and set an “outperform” rating for the company in a report on Monday, May 20th. Alliance Global Partners started coverage on shares of Sachem Capital in a research note on Monday, March 18th. They set a “buy” rating and a $4.50 price objective for the company.

About Sachem Capital

Sachem Capital Corp. operates as a real estate finance company in the United States. The company engages in the originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property. It offers short term loans to real estate investors or developers to fund its acquisition, renovation, rehabilitation, development, and/or improvement of residential or commercial properties.